LONDON, Feb. 27, 2024and citizenshipby investment programs continue to dominate the top spots of global wealth advisory firm Henley & Partners' annual rankings of the most sought-after investment migration programs in the world. Maltaholds onto 1st place in the 2024 Global Citizenship Program Indexas it has done for nine consecutive years, while the Portugal Golden Residence Permit Programretains top spot on the Global Residence Program Index.
The two indexes - featured in the 2024 edition of the Investment Migration Programsreport - offer a systematic analysis and comprehensive benchmarking of the world's most attractive residenceand citizenshipby investment programs, providing the gold standard in the sector. This year's edition includes a total of 39 programs, representing the most relevant of over 100 programs worldwide. These have been appraised by a panel of independent experts, including leading academic researchers, country risk specialists, economists, independent expert immigration and citizenship lawyers, and other specialists, who consider a broad range of pertinent factors. Interactive digitalcomparisonsof the programs are also available, enabling global investors and wealthy families to select what matters most to them when weighing up their options.
Dr. Christian H. Kaelin, international immigration and citizenship law expert and Chairman of Henley & Partners, says, "The publication is important for private clients and wealth management professionals as well as for government policy makers looking to manage investment migration programs to achieve greater fiscal autonomy and economic growth. In this era of heightened global volatility, nation states are using investment migration as an innovative financing tool to fund national or regional social and infrastructure projects as well as development initiatives that mitigate sustainability risks, to the benefit of their citizens and residents."
Citizenship programs: Malta reigns supreme
The Global Citizenship Program Indexranks 13 programs, with the strategically-located European nation of Maltascoring 77 out of 100 and taking top honors once again. Malta's Granting of Citizenship for Exceptional Services by Direct Investment Regulations allow for the granting of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the country's economic development. This is possible following a 36-month residence period (or 12 months by exception). Malta's original citizenship program was designed by Henley & Partners in 2013-2014 and went on to become one of the most successful such programs in the world.
Retaining 2nd place with a score of 74 is Austria'spremium citizenship by investment offering, which requires applicants to make a substantial contribution to the Austrian economy. Three Caribbean island nations tie in 3rd position, each scoring 70: the Antigua and Barbuda Citizenship by Investment Program, the Grenada Citizenship by Investment Program, and the St. Lucia Citizenship by Investment Programall offer attractive real estate-linked investment routes and fund options.
Residence programs: Portugal in prime position
Europe also prevails in the 2024 Global Residence Program Index, with programs on the continent occupying the Top 5 positions. The Portugal Golden Residence Permit Programranks 1st overall out of 26 programs, with a score of 75 out of 100. Each scoring 73, the Austria Private Residence Programshares 2nd place with the Mediterranean's rising star - the Greece Golden Visa Program, followed closely by the Swiss Residence Programon 72 - an investment option developed by Henley & Partners, which combines private residence with the Swiss forfait tax provisions.
Italy's Residence by Investment Programis joint 4th with the UK's Innovator Founder Visa, each scoring 71. The only Top 5 program not in Europe is the CanadaStart-Up Visa Program, which scores 69 and shares the 5th spot with another European favorite that is attracting a great deal of attention, the Spain Residence by Investment Program.
Domicile diversification a top priority
Dr. Juerg Steffen, CEO of Henley & Partners, says, "Acquiring alternative residence and/or citizenship programs enables greater flexibility and participation in the world's leading economies, as well as optionality, which is now an indispensable part of any family's insurance policy for the 21st century. The more jurisdictions a family can access, the more diversified its assets, the lower its exposure to country-specific, regional, and global volatility, and the more sustainable it will be over the long term."
Last year, US-Americans were the top nationality applying for alternative residence and citizenship options through Henley & Partners, and this trend has continued into the first quarter of 2024. This year is also projected to be a record-breaker in terms of millionaire migration, according to the Henley Private Wealth Migration Report, with 128,000 high-net-worth individuals forecast to move to a new country, compared to the 120,000 who did so last year, surpassing the pre-pandemic high of 110,000.
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Sarah Nicklin
Group Head of PR
sarah.nicklin@henleyglobal.com
Mobile: +27 72 464 8965
